Price Level of GDP, average of GEKS-CPDW for Romania
PL2GDPROA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
62.76
Year-over-Year Change
54.49%
Date Range
1/1/1960 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Romania measures the relative purchasing power of the Romanian currency compared to the U.S. dollar. This data point is crucial for economists analyzing Romania's economic performance and competitiveness.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Price Level of GDP, average of GEKS-CPDW for Romania is an index that reflects the cost of goods and services in Romania relative to the United States. It is used to compare the standard of living and purchasing power between the two countries.
Methodology
The data is calculated by the U.S. Federal Reserve using the Geary-Khamis and Caves-Christensen-Diewert-Wordsworth (GEKS-CPDW) method.
Historical Context
This metric helps inform policymakers and analysts about Romania's economic competitiveness and the purchasing power of Romanian consumers.
Key Facts
- Romania's price level was 62.1% of the U.S. level in 2021.
- The price level index has increased from 31.9% in 1995 to 62.1% in 2021.
- A higher price level index indicates lower purchasing power for Romanian consumers.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, average of GEKS-CPDW for Romania measures the relative cost of goods and services in Romania compared to the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the purchasing power and standard of living in Romania relative to the U.S., which informs economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using the Geary-Khamis and Caves-Christensen-Diewert-Wordsworth (GEKS-CPDW) method.
Q: How is this trend used in economic policy?
A: This price level index helps policymakers and analysts assess Romania's economic competitiveness and the purchasing power of Romanian consumers.
Q: Are there update delays or limitations?
A: The data is published with a lag, and the methodology may not capture all price variations between the two countries.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Romania (PL2GDPROA621NUPN), retrieved from FRED.